The cost of petrol has been reduced by Rs2.20 per litre, bringing the new price to Rs327.62 per litre.
ISLAMABAD: The federal government has announced a reduction in petroleum product prices, with new rates coming into effect from August 8, according to a notification issued by the Petroleum Division.
Under the revised prices, the cost of petrol has been reduced by Rs2.20 per litre, bringing the new price to Rs327.62 per litre.
The price of high-speed diesel has also been cut by Rs1.50 per litre, reducing its new price to Rs380.86 per litre.
The Petroleum Division said the revised prices will remain applicable from Augugst 8 following the issuance of the official notification.
More read, Pakistan’s oil and gas explorers set for sharp earnings jump in fourth quarter, analysts say
Earlier, Pakistan’s top exploration and production companies are on track to post a strong rebound in fourth-quarter earnings for fiscal year 2026, according to separate previews released by two Karachi-based brokerages.
Both firms pointed to elevated global oil prices and stronger local hydrocarbon output as the main drivers behind the expected upswing.
Insight Securities analyst Asim Hassan forecast that combined profitability across his firm’s four-stock exploration and production universe, Oil & Gas Development Co., Pakistan Petroleum Ltd., Mari Petroleum Co. and Pakistan Oilfields Ltd., would climb 25% from a year earlier and 17% from the prior quarter.
He attributed the growth to what he described as an elevated oil price environment amid heightened geopolitical tension, along with improved production during the April-to-June quarter.
